Producer price indices - April 2004
Growth of producer prices further accelerating
Publication Date: 14. 05. 2004
Product Code: r-7001-04
Month-on-month comparison:
Prices of agricultural producers grew by 1.9%. The rise applied especially to pigs for slaughter (+10.6%), as well as cereals, cattle for slaughter, milk and vegetables. On the other hand, prices of poultry and potatoes fell by 0.5% both, prices of fruit by 1.3% and eggs by 1.8%.
Prices of industrial producers rose by 0.8%, i.e. like in March. This change in the price level resulted from several important and counteracting movements of prices.
The main factor, having the biggest impact on the total price index of industrial producers, was a further price increase in ’basic metals and fabricated metal products’ (+5.6%). Prices in the Czech Republic gradually respond to the worldwide demand for metals and metal secondary raw materials. Accelerated growth of prices in ‘coke, refined petroleum products’ (+7.3%, as against +3.6% in March), particular higher prices of coke, was a second important factor of price development.
A reverse price movement, i.e. fall, was recorded for ‘electrical energy, gas, steam and water’ (-1.6%), due to summer prices of electricity for protected high-voltage consumers. At the same time, prices of ‘food products, beverages and tobacco’ went down (-0.4%, of which predominantly tobacco).
Prices of construction work rose by 0.4% and prices of construction material inputs increased by 1.5%.
Prices of market services in the business sphere grew by 0.2%, particularly as a result of a 0.3% rise in prices of ‘real estate, renting and business activities’ (prices of TV and radio commercials were up, whereas prices of exhibition and fair service activities dropped).
Year-on-year comparison:
Prices of agricultural producers grew by 20.1% (+18.7% in March), especially due to higher prices of crop products (+45.9%). Considerable price increases were especially recorded for cereals (+36.5%) and potatoes (+117.2%). Prices of fruit and vegetables rose, too. Prices of animal products grew by 5.4% due to increases in prices of pigs for slaughter (+7.9%), poultry (+5.6%) and eggs (+33.6%). Only prices of cattle for slaughter fell.
Prices of industrial producers rose by 3.7% (by 2.1% in March). This was the biggest increase since June 2001. Of a key influence on the total price level were the following branches:
- ’basic metals and fabricated metal products’ (+11.5%) (’basic iron and steel and ferro-alloys’ [+25.5%], ’tubes’ [+10.5%] and ’other first processed iron and steel’ [+20.3%]),
- ‘food products, beverages and tobacco’ (+4.8%) (‘bread, fresh pastry goods and cakes‘ [+14.3%], ‘prepared animal feeds’ [+13.4%], ‘dairy products and ice cream‘ [+6.0%], ‘meat and meat products’ [+4.7%] and ‘grain mill products, starches and starch products’ [+11.8%]),
- ‘electrical energy, gas, steam and water’ (+4.8%),
- ‘other manufactured goods n.e.c.’ (+9.0%) (‘metal secondary raw materials‘),
- ‘coke, refined petroleum products’ (+6.1%), particularly due to higher coke prices.
Prices of four industrial branches stayed below their levels of April 2003 (the decreases were slight, ranging from -0.2% to -0.5%).
Among the main industrial groupings, the highest y-o-y price rise took place in ‘intermediate goods’ (+5.7%) and ‘energy’ (+4.6%).
Prices of construction work and construction material inputs were higher by 2.5% and 4.1%, respectively.
Prices of market services in the business sphere grew by 2.4% in total, responding to higher prices of ‘real estate, renting and business activities’ (prices of TV and radio commercials up) and also of ‘insurance’ and ‘financial intermediation, except insurance and pension funding’.
Industrial producer prices in the EU – March 2004*
On average for the EU member states (the EU-15 and the new member countries), prices of industrial producers rose by 0.5% m-o-m . The highest m-o-m increases were reported for Latvia (+1.1%), Lithuania (+0.9%), Belgium, the Czech Republic and Italy (+0.8% all). Only Finland saw a decrease (-0.1%).
In terms of y-o-y comparison, prices in the EU-25 grew by 0.6% in total, most in Hungary (+7.2%), Latvia (+6.5%), Slovenia (+3.8%), Slovakia and the Czech Republic (+2.1% both).
* Preliminary data; prices of industrial producers for March 2004 released by Eurostat already cover the EU-15 and the new member countries.
Note
Contact: Hana Sýkorová, phone (+420) 274 054 101, e-mail: sykorovah@gw.czso.cz
Miroslav Šimeček, phone (+420) 274 052 372, e-mail: simecek@qw.czso.cz
Data source: CZSO survey
End of data collection / end of data processing:
Agricultural producer price indices: 24th calendar day of the reference month / 8th calendar day of the month following the reference month
Industrial producer price indices: 12th calendar day of the reference month / 7th calendar day of the month following the reference month
Price indices of construction work: last calendar day of the reference month / 5th working day of the month following the reference month
Price indices of market services: 15th calendar day of the reference month / 7th calendar day of the month following the reference month
The data are final, except for the price indices of construction work. The price indices of construction work will be updated, using the results of the completed quarterly survey, and their final figures will be released on the 45th calendar day of the following quarter.
Related publications: 7001-04 Price Indices of Construction Work and Constructions
7003-04 Producer Price Indices – Basic Information
7004-04 Industrial Producer Price Indices
7005-04 Agricultural Producer Price Indices
7008-04 Price Indices of Market Services in the Business Sphere
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